Malaysia's iflix raises $133 mln, funding led by US media firm Hearst

Reuters Staff

KUALA LUMPUR Aug 7 (Reuters) - Malaysia's iflix has raised
$133 million in its latest funding round led by U.S. diversified
media, information and services company Hearst, bringing the
total investments to-date in the video-on-demand service to $303
million.

New investors in this round of funding included
Singapore-based EDBI and clients of DBS private bank, iflix said
in a statement. Existing shareholders Evolution Media, Sky PLC
, Catcha Group, Liberty Global, Jungle Ventures and PLDT
Inc increased their investments.

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Iflix, Southeast Asia's equivalent of Netflix, was
launched in May 2015. The service has been rolled out in 19
markets around Asia, Middle East and Africa.

"These new funds will allow us to further execute on our
local content strategy and expand our technology and development
teams so we can continue to rapidly evolve the iflix service to
meet the unique challenges of emerging markets,"
iflix co-founder and group CEO Mark Britt said.

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Iflix is a subsidiary of Kuala Lumpur-headquartered internet
company Catcha Group.
(Reporting by Liz Lee; Editing by Himani Sarkar)